Welcome to MyLab Accounting! To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimize them in order to continue viewing your work space. Vulture Sporting Goods Company reported the following at March 31, 2010, with amounts in thousands: (Click the icon to view the balance sheet.) Read the requirements. Notice that you are given a feedback message that points you toward incorrect answers. The feedback will not be specific enough to answer the question for you, but to point you to the first error that you have made in the problem step. You should enter all of the inputs for that particular step before checking your answers. Generally you will get three attempts at each step before you will be graded, although instructors can specify those settings. After your initial attempt, if you have additional attempts available continue to work to find the correct answer clicking "Check Answer" after each attempt until your attempts are exhausted and MyLab Accounting completes the question and moves you to the next part of the question. MyLab Accounting gives as much flexibility as possible in answer formatting to give credit for answers that are correct even using an alternate format. Most answers can be entered in various forms, including commas, decimals, dollar signs, etc. Green instructions indicate that you need to be very careful to follow the instructions and enter your answer exactly as requested. In this case it would be okay to enter the Current assets and Current liabilities with dollar signs, commas, decimals, etc. but the current ratio must be entered rounded to 2 decimal places per the green instructions. If you round to something other than 2 decimals using the correct answer, the system will still mark the answer wrong. Compute Vulture's current ratio. (Round the current ratio to two decimal places.) Current Ratio Choose from any list or enter any number in the input fields and then click Check Answer. ?S1-12 (similar to) Question Help Amazing Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: (Click the icon to view the assembled data.) Prepare the income statement of Amazing Arrangements for the year ended December 31, 2018. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Data Table XI Insurance Expense $ 6,000 Salaries Expense $ 45,000 Service Revenue 88,000 Accounts Payable 7,000 Utilities Expense 900 Office Supplies 2,000 Rent Expense 13,000 Richards, Withdrawals 25,300 Richards, Capital, Jan. 1, 2018 12,500 Accounts Receivable 6,000 Cash 4.400 Equipment 11,800 Owner contribution 6,900 Print Done Net Income Choose from any list or enter any number in the input fields and then click Check Answer. ?S1-6 (similar to) Quest Super Fast Handyman Services has total assets for the year of $16,400 and total liabilities of $8, 160. Requirements 1. Use the accounting equation to solve for equity. 2. If next year assets increased by $4,500 and equity decreased by $3,500, what would be the amount of total liabilities for Super Fast Handyman Services? Requirement 1. Use the accounting equation to solve for equity. Begin by solving for the accounting equation. Then use the formula to solve for equity.S1-13 (book/static) Question Help Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: (Click the icon to view the assembled data.) (Click the icon to view the income statement.) Prepare the statement of owner's equity of Centerpiece Arrangements for the year ended December 31, 2018. (Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal.) Data Table Right, Capital, January 1, 2018 Insurance Expense $ 4,500 Salaries Expense 46,000 Service Revenue 70,000 Accounts Payable 17,600 Utilities Expense 1,400 Office Supplies 1,700 Rent Expense 16,000 Right, Withdrawals 4,800 Right, Capital, Jan. 1, 2018 9,000 Accounts Receivable 8,000 Right, Capital, December 31, 2018 Cash 7,200 Equipment 12, 100 Owner contribution 5,100 Print Done Choose from any list or enter any number in the input fields and then clickS1-14 (book/static) Question Help Centerpiece Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business: #A (Click the icon to view the assembled data.) (Click the icon to view the income statement.) (Click on the icon to view the statement of owner's equity.) Prepare the balance sheet of Centerpiece Arrangements as of December 31, 2018. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Assets Liabilities Owner's EquitySam's Office Supplies' balance sheet data at May 31, 2018, and June 30, 2018, follow: (Click the icon to view the balance sheet data.) Read the requirement Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the "equity equation"): (Abbreviation used: Account. = Accounting.) Account equation: Equity equation: i Data Table - X May 31, 2018 June 30, 2018 Total Assets $ 166,000 $ 211,000 Total Liabilities 99,000 100,000 Print DoneScore: 0 of 1 pt 1 of 6 (0 complete) HW Score: 0% E2-12 (book/static) Question Consider the following accounts: Requirements i (Click the icon to view the accounts.) 1. Identify each account as an asset (A), liability (L), or equity (E). 2. Identify whether the account is increased with a debit (DR) or credit (CR). 3. Identify whether the normal balance is a debit (DR) or credit (CR). Requirement 1. i More Info X Asset (A), Liability (L), or Equity (E)? a. Interest Revenue a. Interest Revenue b. Accounts Payable b. Accounts Payable C. Calhoun, Capital C. Calhoun, Capital d. Office Supplies d. Office Supplies e. Advertising Expense e. Advertising Expense f. Unearned Revenue f. Unearned Revenue g. Prepaid Rent g. Prepaid Rent h. Utilities Expense h. Utilities Expense i. Calhoun, Withdrawals i. Calhoun, Withdrawals j. Service Revenue j. Service RevenueE2-17 (book/static) Question Help The following transactions occurred for Lawrence Engineering: i (Click the icon to view the transactions.) #(Click the icon to view the journal entries.) Read the requirements. Requirement 1. Post the journal entries to the T-accounts. Use the dates as posting references in the T-accounts. We will post to the accounts one transaction at a time. Begin by posting the event from the 2nd. Received $14,000 contribution from Brett Lawrence, owner, in exchange for capital. (We will post to the accounts one transaction at a time. Post only the transaction from July 2 in this step.) Cash Accounts Payable Service Revenue Accounts Receivable Notes Payable Utilities Expense Office Supplies Lawrence, Capital Equipment Lawrence, Withdrawals Choose from any list or enter any number in the input fields and then click Check Answer.E2-19 (book/static) Question Help The following transactions occurred for Wilke Technology Solutions: i (Click the icon to view the transactions.) (Click the icon to view the journal entries.) Read the requirement Post the journal entries to the four-column accounts, and determine the balance in the account after each transaction. Assume that the journal entries were recorded on page 10 of the journal. Make sure to complete the Post. Ref. columns in the journal and ledger. (Compute the new balance for each account after posting the transaction.) We will post to the accounts one transaction at a time. Begin by posting the events from the 1st. May 1: The business received cash of $105,000 and gave capital to Zoe Wilke. (We will post to the accounts one transaction at a time. Post only the transaction from May 1 in this step.) CASH Account No. 110 Balance Date Item Post. Ref. Debit Credit Debit Credit May 1 Wilke, Capital Account No. 310 BalanceE2-25 (book/static) Courtney Meehan has trouble keeping her debits and credits equal. During a recent month, Courtney made the following accounting errors: i (Click the icon to view the accounting errors.) Read the requirements. Requirement 1. For each of these errors, state whether total debits equal total credits on the trial balance. For each error determine whether total debits are "Greater than" (>), "Equal to" (=), or "Less than" (